Supply Chain Management

Introduction Supply chain management (SCM) utilises science and art in its set-up. It also works to improve process of acquiring raw materials. Additionally, it makes and transports products to consumers. SCM has five basic components, which enables it to improve efficiency in companies.Advertising We will write a custom research paper sample on Supply Chain Management specifically for you for only $16.05 $11/page Learn More These include plan, source, make, transport and return. These components of SCM ensure that product chain is managed efficiently. The need for efficiency has also incorporated use of SCM applications. Consequently, each of the named components has its software. This paper will explore SCM (Handfield, 2011). Supply Chain Management (SCM) As stated earlier, SCM involves strategic chain of events that begin by acquisition of raw materials and ends when the product is delivered to the consumer. In most cases, these processes are tedious because of the complexities involved. It is therefore necessary that companies exercise efficiency in SCM. It should also be noted that companies have invested large amounts of resources to improve their supply chain. Management of supply chain is therefore very significant in any business. Efficient supply chain management saves on cost and increases profits. Additionally, it improves product quality and reduces time spent on products, which effectively cuts on cost. The current market dynamics are quite challenging for businesses. In fact, market dynamics has seen tremendous growth in competition as well as advancement of technology. This has forced companies to resort to new technological mechanisms of managing supply chain. Supply chain is therefore an integral part of company activities. Definition SCM can be defined as the management of network of events that begin in acquisition of raw materials and ends in delivery of finished goods or services to customers. In essence, it c an refer to the processes involved in acquiring, making and delivering goods or services to customers. Additionally, it can also refer to the management of linked channels that provide goods and services that are required by consumers in the chain of supply. Furthermore, it refers to the supervision, planning, designing, control and execution of activities in supply chain. The main aim of SCM is to promote product or service value, measure performance, link supply to demand, provide global logistics and establish competitive infrastructures (Wailgum, 2008).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Origin and History of SCM Keith Oliver coined the term SCM in 1982. He quoted it in an Interview with Financial times. However, the term did not take hold immediately. In fact, it was mentioned again in the mid 1990s when numerous books and articles were written on it. Since then, it has gained prominence. In the process, prominent people, including operations managers to describe their competencies, have utilised it. During its long period of development, SCM has had numerous definitions, which has been refined in each period. Some of the definitions that were used during its development include management of downstream as well as upstream flow of materials that are value added. Additionally, it referred to the management of information among stakeholders in supply chain as well as management of final products or services. It also involved study of traditional functions of businesses as well as strategies through systematic review in supply chain. These were aimed at promoting lasting performance of both companies and supply chain. Moreover, CSCMP argues that, SCM involves the entire processes to achieve efficiency. SCM also involves collaboration as well as coordination of chain stakeholders such as customers, intermediaries, service providers as well as su ppliers. SCM, therefore, works to integrate all tools of management like supply and demand. However, it should be noted that supply chain is different from supply chain management. While the former refers to a chain of organisations, which are linked at least one downstream or upstream flow of information, product or services, among others from raw materials to the consumer, the latter manages the former. Supply chain also includes use of supply chain software. The software encompasses tool utilised to execute transactions of supply chain. Additionally, the software controls linked business processes as well as manage relationship between suppliers along with other stakeholders (CSCMP, 2013). Major Historical developments in SCM SCM has encountered six main developments. These include SCM 2.0, specialisation phase I, specialisation phase II, integration, creation and globalisation eras. Creation era can be traced to the time of Keith Oliver who coined the term SCM. This happened in 1982. Nonetheless, it should be noted that SCM played an important role way back before the term was coined. This was evidenced when assembly line was created in the 20th century. Creation period was signified through reduction in magnitude and the call for changes in administration practices.Advertising We will write a custom research paper sample on Supply Chain Management specifically for you for only $16.05 $11/page Learn More The second era that followed was the integration era. This era was characterised by technological developments. It brought about the creation of EDI systems in the 1960s as well as the establishment of modern systems like the ERP systems. It was also characterised by cost reduction efforts and value addition. The era continued into the 21st century. It should also be noted that saw growth in internet-based systems (Haag, Cummings, McCubbrey, Pinsonneault Donovan, 2006). The third era that followed was the globalisation era. T his era emphasised on global systems this encompassed relationship between suppliers as well as continental expansion of supply chain. However, this era in supply chain had been done much earlier in other sectors like oil industry. Nonetheless, other businesses intensified its utilisation in the 1990s. This led to integration of global sources in supply chain. It should be noted that this era was characterised by cost reduction, value addition and competitive advantage. The fourth era in this development was the first phase of specialisation era. This face outsourced distribution and manufacturing. Most businesses focused on specialisation in order to achieve competitive advantage. In the process, they dumped vertical integration. They also outsourced functions of noncore operations. In essence, they majored on core operations. In this period, brand owners required recognition in supply chain. For instance, OEMs wanted visibility in supply base. This created distribution networks, w hich increased specialisation. The second phase, which is also known as the second specialisation era, integrated supply chain management as an independent service. This brought about warehouse management, logistics, collaboration and planning, among others. The helped companies to withstand rapid changes are necessitated by demand. This era was characterised by the need to increase competencies. Moreover, it enabled companies to focus on core competencies. This has moved outsourced technology from ASP to SaaS models. The latter is still used in supply chain management. The last category of eras in management of supply chain is the SCM 2.0. This term was coined to integrate new methods of managing supply chain processes. This system has brought with it new collaborative platforms utilised by companies such as TradeCard, among others. Moreover, it allows for increased creativity and collaboration as well as sharing of information among stakeholders. SCM 2.0 delivers results rapidly; it is also flexible and promotes business outsourcing. It also allows for no-touch, mid-touch and high-touch models.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Issues addressed by SCM SCM addresses many issues. For instance, it addresses distribution strategies network configurations. This spans through all stakeholders ranging from suppliers to consumers. Moreover, distribution strategies addresses problems of delivery scheme, transportation mode, control of operations and control of transport, among others. SCM also addresses problems that concerns information, which includes sharing of data that pertains to record, among other areas. Additionally, SCM addresses issues in logistical activities namely, tradeoffs, among others. Moreover, it provides methodologies of controlling cash flow in supply chain. In this regard, funds can be exchanged through controlled networks, which help in aiding payment issues. SCM has the function of managing inventory. This also addresses issues surrounding inventory management. It therefore controls movement of information and materials through the chain. It also gives updated analytical systems utilised to this flow. It is also necessary to note that SCM is bi-directional concerning flow of materials or information. Functions of SCM SCM performs numerous functions or activities. These include management of raw materials once they are acquired, management of manufacturing processes, and management of delivery to the company’s customers. In the process, SCM performs various complex tasks aimed at achieving efficiency and timely delivery of goods or services. Its approach can be termed as cross-functional, since it encompasses numerous processes from the raw materials to delivery. Because organisations try to emphasise in core competencies and to be flexible, SCM works to enable them to achieve flexibility and competence in the fastest and efficient way. Organisations, therefore, outsource various functions to other companies, which are specialised in that area and cost effective. In essence, SCM works to increase the number of firms drawn in to satisfy customer needs. Moreover, SCM works to reduce operational logistics involved in daily running of activities. Due to the collaboration numerous firms to satisfy customer needs, SCM has a function of promoting collaboration and trust among partners. Significance of SCM Because of numerous complexities involved in business management, organisations have placed more focus on instituting credible supply management systems. Furthermore, in order for such companies to compete effectively in an increasingly dynamic global market, they need a reliable SCM system. In essence, SCM play an important role in increasing competencies in businesses. Additionally, specialisation increases quality of products or services delivered to customers. It is also necessary to note that SCM aids in fast delivery of products or services to customers. Besides, it ensures that products made or services provided are adapted to consumer requirements. SCM has played a significant role in increasing velocity of the inventory. It has also mod ernised inventory management, which can now be accessed on a common platform. SCM has been central to collaboration efforts between associated partners. In addition, it has increased trust and dynamism in supply chain. No wonder, it has become the focus of business management. Business process integration Supply chain can be done individually or through integration of activities. However, going by the amount f processes to be monitored, SCM requires change from the former to the latter. For instance, markets make efforts to know consumer needs through communication with retailers and distributors. In essence, integration process must be utilised to achieve company goal. Essentially, it requires teamwork between suppliers and buyers. This ensures that products are tailored to the latter’s need. Moreover, information is shared between them in common systems for an inclusive product development process. To achieve integration, information must flow continuously. Supply chain pro cesses involved in integration include returns management, order fulfilment, customer service, manufacturing flow, product development, product commercialisation, demand management and customer relationship, among others. Other processes that have been suggested in this section include procurement, outsourcing, performance and warehousing management. In essence, these processes must be integrated in a common system to enable business to achieve SCM goals. Customer service process involves exploration of the relationship between customers and the organisation. It ensures that the organisation receive real time information on customer needs. This ensures that customer rapport is maintained and positive feeling is ensured between the two stakeholders. Procurement process also works to ensure smooth delivery of raw materials to the company. Moreover, global companies are also able to source their materials globally whenever required. Product development is another process, which is inte grated in supply chain. It ensures that the company fulfils the needs of customer concerning product development. Other processes include distribution of goods or services to consumers. This process works to link marketing routes to consumers. On the other hand, outsourcing ensures that cost reduction efforts are achieved in manufacturing of goods. Moreover, the company is able to measure performance through performance measurement process. This assists in monitoring of supply chain activities. Besides, business process integration helps companies to manage their warehousing systems from a common platform, which again enhances inventory management. SCM Theories Various theorists such as Lavassani, Hult and Ketchen, among others, have tried to give information on fundamental theories concerning different fields in supply chain. Notably, they have employed organisational theories to achieve this feat. Among the theories proposed, include agency, institutional, strategic choice, system s, customer relationship management, time based competition, and agile manufacturing theories. Still others include just in time, SCM share, PIPS, PIRMS, TOC, MLM, RCM, NP, and ATP theories, among others. However, it is important that these theories are m=not directly linked to supply chain although they give information on processes involved in SCM. For instance, some theories give information on relationship between supplier and buyer, which affects customer relationship management in SCM. It should also be noted that theories such as relational review provides theories on networks and dyads to outline successful firm performance. Therefore, majority of the theories postulated try to define various integrated processes of SCM (SCMR, 2013). Components of SCM As mentioned earlier, SCM has five main components. These are plan, source, make, deliver and return. The first component (plan) is sometimes referred to as a strategic potion because it involves layout of metrics aimed at moni toring supply chain. Additionally, it ensures that supply chain is provides quality products as well as increase value of products to customers. Essentially, it is a strategic plan that manages resources aimed at meeting consumer needs. The next component of SCM is known as source. Companies are tasked with the responsibility of choosing suppliers that bring raw materials. Sourcing component ensures that managers along with their strategic staff set pricing, payment and delivery channels. Moreover, they should develop metrics aimed at improving as well as monitoring relationships. Source component also helps managers to manage inventory of raw materials acquired from suppliers. Thus, sourcing involves tedious activities, which must be integrated in SCM to process successfully. The next component of SCM is make, which involves production or manufacturing. At this stage, raw materials are converted into finished products with consideration for customer needs. The processes involved in this section include manufacturing and testing of the products. Additionally, it includes activities such as packing, among others, which are aimed at preparing the product for delivery to customers. The next component is known as deliver, this component is sometimes known as logistics. It involves the process of arranging and delivering orders made by customers. It also involves integration of networked warehouses as well as carriers, which transport the products to customers. Additionally, this component enables companies to establish modalities of receiving payments such as invoice, among others. The last component of SCM is known as return. This component deals with defective as well as excess goods or services. It is necessary that companies establish flexible and responsive networks for receiving faulty products from customers. However, it should be noted that this component has posed various challenges to companies. The Concept of Centroids in SCM Over the years, Centroids h ave been noted as a significant concept in SCM. This concept targets areas of high density or populations. For instance, in the United States, centroid is positioned in Dayton. This centroid serves about 60percent of Canada’s population as well as another 60percent of the United States’ population. A centroid usually targets populations that represent a country. It covers areas of up to 500 miles. Centroids usually target the busiest parts of the world. Moreover, they target areas that show the heist interchange ration. This is evident in Dayton where the interchange rate is about 1-70, which is only second to the one at California. Additionally, centroids are usually placed near population centres. For instance, Dayton s the population centre for both United States and Canada. It is also estimated that this region sees more than 150000 vehicles per day. Moreover, about 35percent of the vehicles passing each day are trucks, which haul goods. In essence, choosing a cent roid is significant to managers in SCM because it provides real time information on customer needs (SCC, 2013). Tax efficient SCM Supply chain is a global process. Therefore, its management is also executed across the globe. However, it is necessary to note that different countries have varying tax policies. That is, some countries offer lower tax than other countries. Supply chain management should therefore be tailored to achieve lower tax rates than in alternative financial processes. This would help solidify it and improve its benefits to both customers and companies. Tax efficient SCM is recommended, therefore, in SCM models because it serves the purpose of cost reduction. To achieve this, tax effect should be designed and implemented in SCM with close consideration for optimised profits as well as optimised quality of product or service. It should be noted that cross-national trade and globalisation have been fore front in soaring tax rates. However, by considering the benefit s of tax efficiency, companies should work to integrate it in SCM. In essence, tax efficient SCM would be beneficial to companies since it would consolidate their funds as well as minimise cost. Sustainability of SCM Supply chain is normally quantified by use of SECH model of ratings. This model involves use of social, economic and environmental factors of supply chain. It is therefore necessary that supply chain channels be sustained for businesses to keep benefiting from its functions. SECH ratings involve use of four footprints. These are categorised to emphasize on environmental factors, among others. These ratings ensure that companies focus on the four factors in product acquisition, design, manufacturing and delivery. This is increasingly dominant since more than 70percent of carbon footprints come from supply chains. This has forced companies to consider other ways, which can assist minimizing these footprints. In 2010, some companies were asked to conduct audits on carbon f ootprint through third party auditors. This shows the responsibility that has been placed on companies to be sustainable. Sustaining SCM requires complete audit of firms to establish their performance. However, it should be noted that despite efforts made to protect consumers as well as the four footprints of SECC, sustainability of SCM has been quite challenging. Value of SCM Constructions of these schemes are usually done with focus on product value. This ensures that extra revenue is generated on top of the cost of putting up the network. Usually, value is related to the customer who utilises the product. Moreover, he pays for the product with value in mind. That is, value should not be considered on the party of producers only, but also on the part of consumer. However, this has caused various debates on modalities of establishing value-measuring models. Additionally centralisation of tasks such as data sharing and product creation assists in promoting inclusive involvement of p artners. However, it is highly challenging. Therefore, measurement of value should encompass customer feedbacks to create confidence in value systems. Certification in SCM Various associations around the world have worked on significant certification systems, which assists in increasing staff capacity. These include global associations like ISM, APICs, AST L, ISCEA, and IOSCM. Moreover, there are other organisational like CSCP, CPSM, and CSCM, among others. These organisations work to establish common standards and practices of SCM in each of the processes mentioned earlier. These certifications emphasise on different processes. In addition, they combine some processes in their certifications. For instance, ISM certifies staff on CPM (certified purchasing manager). This line deals more with procurement activities than sourcing. Moreover, it also emphasise on inventory management as well as transportation, among others. Notably, these certifications do not leave other processes out entirely. For instance, in CPM, there is some work on warehousing, network design and lot sizing, among others. Consequently, it can be noted that these institutes offer various certifications aimed at developing specific areas of SCM. Therefore, these certifications are essential in maintaining high standards and common platforms for SCM partners. Moreover, they encourage information sharing, which foresters trust among SCM partners. Challenges and Applications of SCM SCM has been applied variously in business environment. However, worldwide supply chain has also come with its limitations and challenges. These challenges usually affect value and quality of products or services. Trends encountered in SCM include globalisation, partnerships with inexpensive providers, soaring offshore sourcing, and soaring expenditures due to globalisation, among others. These challenges also affect mid-sized corporations. Notably, increased focus on shared service centres have also brought about adm inistrative as well as logistical challenges. It is necessary to note that manufactures have gained tremendously from these trends. For instance, they make lowered taxes, enhanced environments as well as big lot sizes. It should also be noted that global application of SCM pose increased challenges since lead-time is long. Additionally, multi currency policies, which surround exchange rates, have also posed challenges to global SCM. In essence, this has also caused inadequate transparency in working profits and costs. Nonetheless, SCM has been a revelation in business management systems. Its application has traversed all global economic powers (Van-Hoek Wagner, 2013). Conclusion SCM refers simply to management of supply chain. Supply chain refers to the processes of acquiring raw material, modifying it (adding value), and delivering it to customers. However, supply chain involves complex networks that range from procurement to delivery of products or services. SCM combines science and art to improve ways in which companies acquire raw materials, make them into goods or services and transport them to customers. SCM management has five main components namely plan (which is usually strategic), source, make, deliver, and return. These components are networked to ensure that SCM achieves efficacy. SCM solves multiple problems for businesses. These include cost reduction through outsourcing, emphasis on core functions through specialisation and development of customer tailored products. It should also be noted that globalisation has brought many challenges to SCM partners. However, this has also come with more cost cutting measures, which increases return. References CSCMP (2013). Education and Networking in the Supply Chain Management Profession. Web. Haag, S., Cummings, M., McCubbrey, D., Pinsonneault, A., Donovan, R. (2006). Management Information Systems for the Information Age (3rd Canadian Ed.). Ontario, Canada: McGraw Hill Ryerson. Handfield, R. (2011). Wha t is Supply Chain Management? Web. SCC (2013). The Five Most Common Supply Chain Challenges. Web. SCMR (2013). Supply Chain Management. Web. Van-Hoek, R. Wagner, B. (2013). Supply Chain Management (SCM): Current Education Provision and Practitioner Future Needs. Supply Chain Management: An International Journal, 18(4). Retrieved from Emerald database. Wailgum, T. (2008). Supply Chain Management Definition and Solutions. Web. This research paper on Supply Chain Management was written and submitted by user Krish Ray to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here. Supply Chain Management Suitability of push and pull management philosophies in relation to the case study and the boundaries between different stages of its supply chainAdvertising We will write a custom assessment sample on Supply Chain Management specifically for you for only $16.05 $11/page Learn More Several approaches are always made for the purposes of ensuring perfect mobilization of resources towards achievement of certain goals. The approaches may vary in details but at the end of it all share common ground of improving businesses like Sandwich Company. Push management could be designed to position resources at suitable places where there is anticipated need. The model results into equipped line of services based on standardized processes which could assist in delivering resources and products to right venues at anticipated times. The technology employed should specify activities that need to be administered together with the resources in order to meet anticipated dem ands. The push models tend to work with people passively, where the decisions affecting consumers could only be solved through central decision making (Hagel and Brown, 2005). Focus on pull management assists in the creation of foundation where people are helped in the processes of appropriate mobilization of right resources. The pull models are created as a result of increasing uncertainty within companies like the Sandwich Company. They help in improving the level of creativity applied by local participants who seeks satisfaction of immediate needs. The pull models help employees within the company to come together with innovative ideas which would help in solving the rising demand of sandwich products, this may include resources such as installation of refrigerators for the sake of perishable products. Pull models seeks no dictate on the nature of tools and resources required to accomplish tasks and address arising opportunities like supplying goods to the supermarket. Pull model s tend to treat consumers as creative entities that could be used to solve problems and create opportunities. It is applied to reinforce capability building by all consumers and employees hence assisting them towards innovation that could help them solve their needs (Hagel and Brown, 2005). With the maturity of supply chain within Sandwich Company, the demand chain is as well gaining importance and requires the organization’s appropriate responses. Sandwich products alongside services that goes with production, needs to be appealing to the consumers as well as the company’s stakeholders.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The pull model could be rightfully applied in this area so as to ensure that both customers and the firm are placed into consideration for viable outcome in production. The firm need not only to focus on the drivers within the demand change but also on their efficient management. This is what leads to the firms’ ultimate value chain (Hagel and Brown, 2005). The efficiency of the supply chain within Sandwich Company cannot be realised until the level of demand for the products is understood. First of all the demand chain objectives requires address in line with the company’s business strategies. This will make it easier for the employees to extensively resume the relevance of the strategies for the purposes of exploring available opportunities. Holistic approach to market opportunity analysis needs to be considered whereby; cost optimization is given priority on the side of customer expectations as well as those of stakeholders. However, the cost does not matter so much within the market since consumers are more concerned about convenience and speed. The marketers should be more involved in the process of product characteristics. The pull approach when adopted provides flexible approach towards the managem ent of the resources being used in the production process since the ingredients used seem to be perishable. This assists in mobilising assets and other resource capabilities like distributions outside the confines of the company. The pull system when applied in this business will ensure effective extension of services beyond production processes (Hagel and Brown, 2005). Sandwich Company needs to pay much attention towards services and satisfaction of consumers on their products; they need to consider issues such as complain from customers and product follow up avenues. These processes help in enhancing the Company’s image amongst consumers because of their high performance level. The Company emphasizes so much on product delivery as one of the important quality drivers. As part of pull model, Sandwich Company needs also to focus on offering good training to its employees which ultimately ensures that they are acquainted with the right knowledge enabling them to handle current consumer issues. Sandwich Company requires market surveys to establish on efficiency of their services to consumers. Monitoring of delivery services should be done through some systems of evaluation such as on-time and same-day deliveries. Sandwich Company uses the final assembly time as the basis of making charges to its customers (Hagel and Brown, 2005).Advertising We will write a custom assessment sample on Supply Chain Management specifically for you for only $16.05 $11/page Learn More Sandwich Company should make crucial improvement on some customer metrics such as transportation of products and timing of delivery services, this is since these metrics contributes tremendously towards customer satisfaction. The improved performance of Sandwich Company could be attributed to positive responses received from potential consumers. The company needs to place lots of emphasis on customer views and comments towards their services. This can be done efficie ntly through conducting of customer surveys that makes it easier to analyze consumer tastes, preferences and expectations (Godsell et al, 2006). Customer perspective means of evaluation is very crucial towards contributing to the Company’s improvement in performance. Customer service aspect of the BSC should be utilized by Sandwich Company through the use of important measures which include; lead times, on-time delivery services, customer index and the level of consumer satisfaction. The Company determines customer satisfaction through surveys that are conducted by random selection of customers on a monthly basis and making them fill few questionnaires. Analysts from outside the Company are used to visit consumers on behalf of the firm and produces report on the consumer reactions and valid expectations they desire from the Company. Customer survey questions are constructed based on basic consumer concerns touching crucial areas such as quality, satisfaction on delivery time and concern on pricing methods used on the Company’s products and services (Godsell et al, 2006). The company focused on the quality, cost, performance and issues on prices at which goods and services are offered to customers. They also focused on the level of supply of goods to consumers at different locations. These companies analyze customers in relation to their potential and pay much attention to the processes through which products and services are administered to the specific customer groups. The company’s effort to evaluate the performance from the customer point of view contributed largely to the performance of the company. The processes through which they developed products are defined by quality measures, cost of production and time which contribute a lot towards customer satisfaction (Godsell et al, 2006). Response management will be required on the process of evaluating range of alternatives. This is done through first of all reviewing the amount of resour ces available and linking them to market outcomes and possible limitations. Apart from the production process, delivery of services is equally an important factor for success to be realised.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Corporate BSC was established so as to help in organizing operations within the Company. This helped in establishing customer perspective as the key contributor towards effective performance and achievement. The company puts much emphasis on the product cycle that involves transportation and kind of services delivered as some of the important metrics used within Sandwich Company. The Company focuses on supplying quality citrus products at affordable prices while still maximizing on its profit. The actions and measures taken by Sandwich Company’s are all customer-centric. The success of the Company is attributed to their market strategies on ways to deal with customers. However, the Company need to diversify its production to include other related fruit products (Godsell et al, 2006). Cycle view of supply chain operations The customer order cycle comprises of customer arrival followed by the entry of Customer’s order then Customer Order fulfillment and finally customer receiving the order. The replenishment cycle which is the category of retail order, comprises retail order trigger followed by retail order entry then fulfilling the order request and finally receiving the products. This is preceded by the manufacturing cycle which comprises the order arrival going through the production scheduling then manufacturing and shipping process then reception of the final products. Before the manufacturing process, there is the procurement cycle which involves making order of materials based on the manufacturer’s production schedule, suppliers’ precisions and also considering the various components of manufacturing before the materials are received by the manufacturer. Metrics Reliability Responsiveness Flexibility Cost Assets Perfect Order Fulfilment z Order fulfilment Cycle time z Upside Supply Chain flexibility z Upside Supply Chain Adaptability z Downside Supply Chain Adaptability z SCM Cost z Cos t of Goods Sold Z Cash-to-Cash Cycle Time z Return on Supply Chain Fixed Assets z Return on Working Capital z The use of business score card could be of prime use in this Company. Score card could be used in this Company as a management tool to motivate employees towards increasing the value of the organization giving it the ability to appeal to shareholders and rewarding of all employees with high performance level. Corporate BSC should be established so as to help in organizing operations within the Company. This could help in establishing customer perspective as the key contributor towards effective performance and achievement. The company should strive to place much emphasis on the product cycle which involves transportation and kind of services delivered as some of the important metrics used (Godsell et al, 2006). The processing time depends not only on the set up time and compatibility of other ingredients but also on the rate of flow of the raw materi als. This therefore calls for implementation of faster means of transport to cater for the need. The sequence of sandwiches at the end of processing unit should be geared towards minimizing total completion time and maximum earliness. Finished products with due dates should not be supplied since this may bring about confusion on the utilization of the available resources. Conclusion In reality the customer perspective actions and measures taken by Sandwich Company are customer-centric since all the strategies were geared towards maximizing profit per potential customer within the market. Sandwich Company ensures that customers receive their products in good shape, quality and at the right time. This could be ensured through the reduction of assembly time that also contributes to lowering of prices. The manufacturing efficiency of Sandwich Company should be improved through the use of BSC which helps in creating crucial changes within the process and human resource management. The ov erall efficiency of the processes should be improved by more than 10%. Apart from focusing on quality expectations from customers, the company should expand their concern to encompass cost of production and the nature of delivering goods. Increased income and improvement in sales are some of the indications of the level of customer satisfaction. This is since customers tend to buy more of a product when satisfied with its quality and prices. References Godsell, J. Harrison, A. Emberson, C. Storey, J. (2006). Customer responsive Supply chain strategy: An unnatural act? International Journal of Logistics, (9). Hagel, J. Brown, J. (2005). From Push to Pull Emerging models for Mobilizing Resources. Working paper, (10), 2-48. This assessment on Supply Chain Management was written and submitted by user M00nKn1ght to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here. Supply chain management Introduction When we talk of supply chain management, we look at different factors and scenarios which are important in the management of the supply chain. In supply chain management mainly focuses on forecasting in particular collaborative forecasting, which is important in that it helps an organization reduces costs associated with inventory.Advertising We will write a custom essay sample on Supply chain management specifically for you for only $16.05 $11/page Learn More In an organization, we look at inventory control closely and as a result we have to make plans for the control and management of internal and external factors (Chopra, 2009). To ensure that the organization remains at a competitive advantage supply chain management through collaborative forecasting is very important. Effect of data points on confidence intervals In our case, various data points are available that affect the way the inventory ordering is done; the data points enable us to gauge the accuracy of our forecasting. While forecasting it’s important to note errors due to forecasting based on historical data, the less the number of data points the higher the confidence levels and vice-versa (Lambert, 2008). MAD (mean absolute deviation) is a technique used to trace errors in the process of forecasting. In the process of collaborative forecasting, inventory forecasting is done through various means and in our case multi-period inventory system was used. This system depends on fixed order periods, in that order of inventory is done when time for the current inventory expires. In our scenario provided we look at collaborative forecasting using the technique of fixed time period model, this model explains on how inventory should be ordered according to the calculations done using fixed values and assumptions (Chopra, 2009). This model assumes that the demand and cost of a product is uniform and goods ordered will not be returned. The model looks at th e costs involved and as a result the accuracy levels of using this model are very high with minimal errors.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Role of global factors and competition When an organization is forecasting we have to look at factors which influence the forecasting. In our case global factors such as change in currency exchange rates and price of oil, affect the forecasting task. These and other global factors have made the forecasting process difficult, these factors might make the forecast have errors which will lead to costly overheads in organizations. According to Helms (2000), some global factors that are to be considered when forecasting include competitor’s advantage, market demand and economic conditions which have had an influence in the forecasting of how many vehicles will be sold in our case. On the issue of forecasting bearing in mind the competi tive nature of the world markets, we have to analyze demand based on the customer’s expectation and the use of technology in the forecasting process (Lambert, 2008). When make use of technology such as ERP systems we are able to come up with a system which relies on dependant demand, in this case we are able to predict inventory through partnerships with suppliers and customers leading to better forecasting techniques. Another technique used to gain competitive advantage over our competitors is by use of seasonal forecasting and partnerships with all people involved in the supply chain, this external information when fused with internal data enables the company to focus on the customer needs. Challenges faced in previous evaluation Many challenges were faced in the forecasting of inventory and how to handle information for proper forecasting. Challenges faced included assumptions that the demand of goods will remain constant and returned goods may increase inventory leading t o additional costs. According to Lapide (2001), the effect of inventory on increasing cost makes forecasting difficult; another task which makes forecasting difficult is the use of historical information in the process. The use of this information is inaccurate since it does not take into consideration future change or trends.Advertising We will write a custom essay sample on Supply chain management specifically for you for only $16.05 $11/page Learn More In the process of forecasting, challenges are usually based on the methods used for forecasting. In our case challenges such as constant monitoring of inventory, returned goods and changes in current trends have an effect on inventory are considered as common challenges faced in the evaluation process (Seifert, 2003). Some of the challenges like weather, entry errors, and obsolete demand forecasting are that face us in the forecasting process. Lack of enough expertise to enable us to do better forecast ing of seasonal, time horizons and financial planning are some of the challenges we have to undergo. This is due to the fact that the dealership we are about to open is a new office and total coordination of all chains of supply chain will take time. Conclusion The process of supply chain management is very important in today’s organizations. With this in mind, we must take prudent and efficient steps to come up with right measures to control this information. Forecasting taking a center stage in the management of companies’ information; current trends have shown that data mining for effective management of organization help them to plan on the time, quantity and supply of products, leading to saving which contribute to bottom lines (Seifert, 2003). With current changes in the market, organization should harness the benefits of collaborative demand forecasting through partnerships, technology and other techniques. This process will take organizations closer to demand f orecasting techniques leading to better customer service and better management of the supply chain. References Chopra, S., Meindl, P. (2009). Supply chain management: Strategy, planning, and operation. Boston, MA: Prentice Hall. Helms, M., Ettkin, L., Chapman, S. (2000). Supply chain forecasting – Collaborative forecasting supports supply chain management. Business Process Management Journal, 6(5), 392. Lambert, D. (2008). Supply chain management: Processes, partnerships, performance. San Francisco, CA: Supply Chain Management Ins.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Lapide, L. (2001). Developments in Demand Forecasting from Ancients Greeks to Present. The Journal of Business Forecasting Methods Systems, 16(1), PP. 33-41. Seifert, D. (2003). Collaborative planning, forecasting, and replenishment: How to create a supply chain advantage. New York, NY: AMACOM Div American Mgmt Assn. This essay on Supply chain management was written and submitted by user Barbara Berry to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Preparing a Sample Identity Essay - What to Include

Preparing a Sample Identity Essay - What to IncludeA sample identity essay can help you practice your craft before presenting it to a hiring manager. It gives you the opportunity to ask the basic questions that you may need to ask and answer.When preparing your own identity essay, there are a few things you should keep in mind. Here are some tips to keep in mind.The first basic question is, of course, what you want to say about yourself. When you are putting your information into the essay, it is important to remember that it is not a reflection of who you are, but it is a reflection of what you want the employer to see.That's why you want to choose a very specific and pertinent section of your life that you want to represent. You want to put yourself in a situation where you can express a true side of yourself. Of course, this doesn't mean that you cannot change your appearance or go for flashy colors or jewelry.However, it does mean that you have to have a realistic plan on how you are going to portray yourself. When you do have a plan, you can then include the pieces of your personality you wish to highlight, or possibly tone down parts of the statement that might not be appropriate.Be sure that you are including information that people would find useful. By being able to identify facts and numbers that are specific to your life, you can show the employer that you are a problem solver, as well as someone who can adapt to the times. Although your statement will be from a personal point of view, you want to make sure that you are getting the most out of what you say.When preparing a sample identity essay, use the information you find to build on. No matter what, you should leave enough space to explore your feelings about yourself and how the statement you have prepared could portray you as an individual. Don't get discouraged if you don't think you've got it quite right.

The Short Summary of the Film Alexander the Great Essay Example

The Short Summary of the Film Alexander the Great Essay Example The Short Summary of the Film Alexander the Great Essay The Short Summary of the Film Alexander the Great Essay The Short Summary of the Film Alexander the Great is about a man called Alexander, king of Macedonia. The story tells us how Alexander conquers Asia, Egypt, part of India and how he becomes the legend â€Å"Alexander the Great†. The chosen leaders for this movie are Alexander and his father Phillip. Alexander is a man with enormous dreams since his childhood and he has been called â€Å"The son of the god†. He knows and believes from the very beginning that he will create a history and become an important person for his people. Alexander is an effective and good leader in one way, but on the other hand sometimes he seems to be an ineffective leader who only searches for power and self fulfilment. ALEXANDER -Alexander’s Ability and Traits Alexander has traits to be an effective leader in wars. He born as a leader and knows how to get the soldiers to follow him and trust him. He takes an interpersonal role where he acts as a leader of his men and the population of the land that he conquers. Alexander is a good planner and organiser, he know his goal and have a strategy. He has also great ambition to do the best for himself and his people. Alexander wants to be seen as a hero, he love to manage and conquer. He is a good negotiator, as you can see in the movie for example when he and his father conquer Greece. The traits and behaviour that Alexander has is associated with derailment is that sometimes he shows very high self-esteem and He thinks that he can manage everything because of his very individualistic nature. Also he trust anyone and anything but himself. However, he needs to learn that sometimes he also needs to listen to his people and his followers to make decisions. Furthermore, another negative trait of Alexander is that he is very much impatient since he is so much fascinated by his ambitions that he couldn’t analyze the facts. -Alexander’s Leadership Behaviours Alexander uses different leader behaviours depending on the followers. For the soldiers, he tries to motivate and recognize them and to create a culture with values and norms. He also clarifies goals and objectives for the soldiers, so everyone knows what they need to do. Alexander is also a good team builder, to be a good soldier you need to work together as a team and he displays this must behaviour. Alexander’s In-groups and Out-groups Alexander has some in and out group member in one point of view. The in-group members are: His mother, his nearest friends such as such as Ptolemy, Hephaistion, and Cassander and his tutor, Aristotle. The out group members are the other soldiers from the places he conquered. However you can also take the point of view that Alexand er tried to create a positive relationship with all of the followers and create system and network through the world, as a head leader. Soldiers need to work as a network and that’s why he needs to have positive relationships among all of the followers so they trust him. Alexander’s Leadership Styles Alexander is task oriented and uses an autocratic leadership style. On the other hand, when he has time, he used consultation with his nearest friends, mother and his tutor, Aristotle. If we look from the perspective from Ohio State University he would be a directive/autocratic leader. Alexander also use delegation the daily business to the kings of the conquer land. In our point of view he thinks that he uses the appropriate decision style but he could use more consultants and listen to the followers rather then being very task-oriented leader. -Alexander’s Sources of Power Alexander has different sources of power. He has legitimate power because of his position king of Macedonia, reward and coercive power that he can reward or punish the soldiers depending on their behaviours and ecological power because he can decide how the organization for the soldiers and the organization should look like. He has also referent power that he has charisma and the soldiers have high loyalty. -Alexander’s Influence Tactics Alexander use different influence tactics to influence his people, legitimate power, rational persuasion, exchange tactic, personal appeals, inspirational appeal, and pressure tactic. Alexander is also a charismatic leader; he has the charisma both from his personality, vision and the situation. And his vision is to conquer the whole world and being the strongest. PHILIP Even though Alexander is the leading character in the movie, King Philip plays a very important role as well. Philip is a good leader in his younger ages in terms of expanding the borders of the country and giving importance to science, art, philosophy†¦etc. Additionally, he seems to be liked and respected by his public. However, in the film we come across with his old ages, accordingly a decline of his success. Therefore, he is facing problems related not only with divided Greece but also his health problems. -Philip’s Ability and Traits Dominance, self confidence, intelligence and internal locus of control are four personality traits for Phillip. In terms of dominance criterion, we clearly see that Philip likes to take charge of things and leading people, and he actually succeeds on this aim. He rules a broad country and commands the army. He is also highly self confident. Even if he is really sick, he believes he can go to the wars alone without taking Alexander with him. His self confidence may come from his intelligence, since he knows that he has enough capability of achieving his goals and he believes he is superior to his rivals such as the kings of other nations or commanders of other armies. Most importantly he has clear internal locus of control. He wants all control in his hands. He even believes he should rule the whole world. Accompanied with his effective behaviors, Philip has also some traits which results in derailment. Here are some of them: We can say that Philip is somewhat neurotic. This low emotional stability may occur because of his age or the complex situations he is facing with. He is also defensive, meaning he resists change. Another negative aspect of his behaviors is that he is not good at delegation. The monarchic nature of his power may prevent him to share responsibility with others. He is also very self- centered and he does not want to share the success with others. -Philip’s Leadership Behaviours Basically, the behaviors that Philip employs: Planning/Organizing, Motivating, Consulting, Rewarding. As a king, planning and organizing tasks are inevitable for him; and we see it from the movie in the scenes that he tries to develop strategies for his troubled country. He believes that his country should rule the world and he motivates his followers in that way. He also applies rewarding. He organizes meetings and declares the successes of soldiers who return from wars. He has some advisors around him and the famous philosopher Aristotle. He consults them and gains insights about situations around him. -Philip’s In-groups and Out-groups We identified two characters as examples of in-group members. They are Philip’s close friends/advisors and his girl friend. They clearly more influence on Philip. On the other hand, his wife Olympia seems to be an out-group member. Philip wants to send her away since he is in love with Eurydice. He is also suspicious about her loyalty. He claims she creates gossips about him saying he has gone mad. And the queen is not happy about these conditions and she feels disappointment that Philip leaves her. -Philip’s Leadership Style Phillip uses basically two different decision making style in the movie. The most used one is autocratic decision making. As being the leader of the public and the palace Phillip makes decision alone without asking Alexander, the Queen, the soldiers and his friends. On his own Phillip investigates the conquests, wars, and the future of Macedonia and decides what should be done. After that he tells people what he decided and what would they do. -Philip’s Sources of Power Firstly, he has position power. He has legitimate power because he is the king and the leader of the public and the palace. Since Phillip can reward people for appropriate behavior and punish them for noncompliance he has both reward and coercive power. He has great information power because he has control over access and distribution of the information. He control over the physical environment and organization of the work so he has ecological power. Secondly, he has personal power: Due to his specialized knowledge and skills he has great expert power. -Philip’s Influence Tactics Phillip use legitimating tactics, inspirational appeal by arousing emotions, consultation -He only consults with his consultant in the palace. He never asks something to the public-, and pressure tactics including coercion, intimidation, and push behavior to influence the soldiers, the public, and the palace. Phillip is also a charismatic leader; his charisma emerges depend on different sources such as his personality, leadership skills, followership, and the situation. Because of his charisma he has great impact on people especially on the soldiers. Followers’ Characteristics As we watched the movie again and again, we discovered unimaginable leadership characteristics of Alexander the great at each time; however, finally we understood that only good followers can make a great leader. The question in this point is â€Å"who is a good follower? A good follower is one who understands, supports, and works for the leader’s vision and challenges the leader’s decisions that are misguided or unethical. By taking this definition as the base we determine several followers that made Alexander one of the greatest leaders ever seen. These are Macedonian great generals such as Hephaestion, Permenion, Coenus, Antigonus, Polyperchon, Crateros, Perdiccas, Attalus, Philotas, Cleitus , Pausanius, and Leonnatus. Among these Permenion and Hephaestion were the most valuable and the closest, respectively, to Alexander the great. Hephaestion grows up with Alexander and share his entire secret. Besides being a soldier, engineer and diplomat, he corresponds with the philosophers and actively supports Alexander in his attempts to integrate Greeks and Persians. Permenion, one of the most experienced warriors, is the main general in command of the army. Alexander does not make any decision without him. During the battles he can create innovative strategies and always is seem to be unbeatable. In the Gaugamela battle, while Alexander commands the right part of the army, Permenion fights in the left of the army and solely commands the entire left part. Alexander is great with these followers, without them he is just a person who has high passion to win, to create a unique empire in Europe and Asia. When Macedonians are in India, Alexander speaks to his army and tried to persuade them to march further into India but Coenus makes him to change his opinion and return. The main reason of this return is the unwillingness of the generals. However, we never forget that without a leader followers cannot succeed. Just after the Alexander death the whole empire is divided into four parts by the followers.

What Do Tutors Actually Do During SAT

What Do Tutors Actually Do During SAT/ACT Tutoring SAT / ACT Prep Online Guides and Tips You’ve heard of this strange, mysterious thing called â€Å"SAT/ACT Tutoring.† Okay, maybe it's not all that mysterious to you, but it was a cipher to me when I was in high school. Was SAT tutoring like homework, but with supervision? Why should I waste my precious free time with a tutor when I could just do everything myself? What actually happens during SAT/ACT tutoring? In this article, I'm going to talk about what we at PrepScholar believe the best tutors do during the course of SAT/ACT tutoring. These are the best practices that we employ to get our industry-leading results. This is in no way a guarantee that every tutor will follow every one of these guidelines, of course, but it gives you an idea of what to look for. We will answer all the questions I had as a confused high schooler†¦and more! As a bonus feature, I’ve included things that good tutors should absolutely NOT do during ACT/SAT tutoring sessions, so that if you encounter them, you can run in the other direction.

Managing Financial Resources on Tesco and Sainsbury Essay

Managing Financial Resources on Tesco and Sainsbury - Essay Example Both the companies Tesco and Sainsbury are a retail giant multi-chain retail stores. Both the companies are companies have achieved profitability in the financial year 2013. Looking at the financial statement both the companies are in the relatively safe position in terms of profitability. On the overall Sainsbury has a better profitability margin than Tesco. With regards to the Liquidity ratio both the company are in a similar position. Both the companies should look at improving their financial performance to improve their return to the shareholders. Tesco PLC is a multinational grocery store located in Cheshunt, United Kingdom. It is presently the second largest retailer in the world in terms of revenues. It has its presence in 14 countries across Europe, Asia and North America. Tesco was originally a grocery retailer and has diversified geographically into many areas like books, clothing, retailing, furniture, electronics, petrol and software. It also has its presence in telecoms , financial services and internet services, music downloads and DVD rental. This report will take a look at the financial performances of the two companies; discuss possible users of such analysis and what they can do with this information. Discussion Profitability ratios Three profitability ratio for Sainsbury and Tesco are shown below Profitability Ratio for the year ended 2013 Sainsbury Tesco Gross profit margin 0.05 0.06 Net Profit margin 0.03 0.02 Return on Equity 0.11 0.08 Gross Profit margin is used to measure the financial health of a company. It reveals the amount of money which is left over after deducting the cost of goods sold from the revenues. It is the source of paying for additional expenses and future savings. It indicates the manufacturing efficiency of the production process for the company. A high gross profit margin signifies that a company can make profit while keeping the overhead cost in control. A low margin indicates that a company is not able to control it s production cost. Retail Industry average of Gross profit margin is around 10%. But for both the companies it is below the industry standard. For Sainsbury it is 5% and for Tesco it is 6%. For both the company the cost of sales is high as percentage of its sales. For Sainsbury the cost of goods sold comprises of 95% of the sales figure and for Tesco it is 94%. Both the company must try to reduce its operating cost to improve its efficiency. There are ways to improve the gross profit margin. The company should look to optimise its price structure and should not look at discounting their prices. The company should try to sell goods at higher margins. The company should try to improve the inventory systems like less theft, stock obsolescence. Net Profit Margin The Net profit margin is how much dollar is earned by the company ultimately for each dollar of sales achieved by them. Similar to gross profit margin, their ratio shows the efficiency of the company. This ratio shows the compan y’s pricing policies and how efficient the company is in running its operation. Retail Industry average of Net Profit margin is 10%. For both the companies the ratio is well below the industry average. For both the companies the Net profit margin is nearly the same. They must try to improve their ratio so that the efficiency increases. The companies should try to increase their volume of goods sold. They should aim to decrease their purchase cost, increase their conversion rate of raw materials, and sell goods at higher margins. Return on Equity Return on Equity is another measure of efficiency of the management in generating the returns for the capital invested by the shareholders. The higher is the ratio the better it is for the shareholders to invest their money into the company. In retail industries companies require huge capital to invest in their business. Hence the companies should generate high returns. The industry average of ROE is 15%. Both the companies are both b elow their standard figure. ROE of Sainsbury is higher than that of Tesco. This shows that

Changing minds Essay Example | Topics and Well Written Essays - 1000 words

Changing minds - Essay Example something different and not fully associated with whatever it is that the person claims not to like, one would be able to get that person’s brain processes thinking. An â€Å"Integrated viable identity† is what gives people the sense that they can move on with their lives - it is a way of functioning as a member of society. In order to adhere to the â€Å"Integrated viable identity† of our readers, we must make our messages clear. We want our readers to understand what we are saying, how it applies to them, and how they can alter their integrated viable identity to having the identity as one of our readers. It is a matter of making the reader aware that their opinion and views matter. We are able to do this by addressing the topics of which our readers have the most interest in, because it appeals to their identities. The best way to change someone’s mind through our blog would be to provide the right collection of relevant data. â€Å"Representational Rediscrimination† comes down to presenting a new idea in a variety of ways which allow those who are affected to see the idea in their own way. For instance, presenting both Logical and Linguistic ideas on a large scale, so that both intelligences are addressed. As with the Freedman example in our text, we are addressing various groups, such as companies and corporations in order to make a large-scale change of minds. The problem with this is that ideas become more set and defined compared to when people were younger. Therefore it becomes more difficult to illicit a change in thought because of this present resistance. The discrimination that a reader of our blog may feel upon visiting comes from the issues that we represent. If we are presenting information that they strongly disagree with, then they will not return. The best way to fix this would be to present our information in different ways, so as not to trigger the discriminating response. The important part of the â€Å"Designated Driver† model

Epicureans: A Debate Essays -- Philosophy, Rosenbaum, Luper

My topic focuses on Rosenbaum’s defense of the epicurean view, Luper’s critique of this view and my argument on who has a stronger position in regards to the topic. I am going to do this by describing both arguments in a detailed manner. Rosenbaum defends the epicurean view while Luper argues against, both sides provide excellent arguments and my argument is that which I feel is more superior. Rosenbaum defends the epicurean view throughout his essay. Epicurus â€Å"argued that since death is neither good or bad for the person dead and since the fear of that which is not bad for one is groundless, it is unreasonable to fear death† (Benatar, 175). A person when dead is lifeless and therefore cannot feel anything. This person is nonexistent and according to Rosenbaum because of this, the statement of whether death is good or bad does not apply to this situation. Since one cannot feel anything, one cannot experience a death situation and determine whether it is good or bad. Therefore it does not matter and there is no reason to fear death. According to Rosenbaum there are three different concepts, which must be understood. These are, dying, death and being dead. The first two are often not distinguished; Rosenbaum says they must be distinguished as they mean two completely different things. â€Å"Dying we may say is the process whereby one comes to dead or the process wherein certain causes operate to bring about one’s being dead† (Benatar, 176). This is essentially the last phase of one’s life. It is the prelude to death itself. It is the process, which leads to becoming dead. Rosenbaum goes on to explain, â€Å"the process of dying may be comfortable or uncomfortable† (Benatar, 176). The process leading to eventua... ...uper’s argument he is missing the point of Epicurus’s argument, which Rosenbaum has further explained. Of the two arguments Rosenbaum’s argument arguably has more points to back up the epicurean view than Luper’s. Luper’s is based on assumptions and we cannot live on assumptions. In my essay, I provided a detailed description of both Rosenbaum’s argument and Luper’s in an unbiased manner. I did this by highlighting the main points of both arguments and getting this main point across. Both sides of the arguments are presented and I contrast and compare deciding which one I feel is superior. In my argument, I present points, which I have, accurate counter points for, from each argument. In conclusion, Rosenbaum and Luper both present arguments both for and against the Epicurean view, this essay is mainly describing each one and choosing a side at the end.